| Schedule of convertible notes payable |
| Schedule of convertible notes payable | |
| |
| |
| |
| |
| | | |
| | |
| | |
Conversion price per
share | |
Interest
rate | |
Effective
rate(1) | |
Due date | |
December 31,
2025 | | |
December 31,
2024 | |
| Convertible promissory notes issued to JGB entities | |
85% of 3-day VWAP | |
13% | |
33% | |
December 30, 2027 | |
$ | 12,768,000 | | |
$ | - | |
| SJC Lending, LLC (“SJC”) convertible promissory note | |
75% of 5-day VWAP | |
15% | |
16% | |
December 31, 2025 | |
| 2,786,000 | | |
| - | |
| ROI senior secured convertible note, in default | |
$0.11 (ROI stock) | |
OID Only | |
19% | |
April 27, 2024 | |
| 1,981,000 | | |
| 4,245,000 | |
| TurnOnGreen convertible promissory note | |
80% of 10-day VWAP (TurnOnGreen stock) | |
12% | |
21% | |
October 29, 2026 | |
| 440,000 | | |
| - | |
| 10% OID convertible promissory note | |
$5.87 | |
18% | |
18% | |
May 15, 2025 | |
| - | | |
| 4,167,000 | |
| Forbearance convertible promissory note, in default | |
$2.00 | |
18% | |
18% | |
June 30, 2025 | |
| - | | |
| 853,000 | |
| Convertible promissory note – OID only, in default | |
90% of 5-day VWAP | |
OID Only | |
26% | |
September 28, 2024 | |
| - | | |
| 393,000 | |
| Avalanche International Corp. (“AVLP”) convertible promissory notes, principal | |
$0.35 (AVLP stock) | |
7% | |
9% | |
August 22, 2025 | |
| - | | |
| 9,911,000 | |
| Fair value of embedded conversion options | |
| |
| |
| |
| |
| 1,576,000 | | |
| - | |
| Total convertible notes payable | |
| |
| |
| |
| |
| 19,551,000 | | |
| 19,569,000 | |
| Less: unamortized debt discounts | |
| |
| |
| |
| |
| (4,958,000 | ) | |
| - | |
| Total convertible notes payable, net of financing cost, long-term | |
| |
| |
| |
| |
$ | 14,593,000 | | |
$ | 19,569,000 | |
| Less: current portion | |
| |
| |
| |
| |
| (6,750,000 | ) | |
| (19,569,000 | ) |
| Convertible notes payable, net of financing cost – long-term portion | |
| |
| |
| |
| |
$ | 7,843,000 | | |
$ | - | |
| (1) | Includes forbearance and extension fees and OID costs that are amortized to interest expense over the
life of the notes. |
|